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their payout dates ahead of the fiscal cliff. taxes may go up on dividends but given the prospect of higher taxes, will dividends actually be dead on arrival in 2013? and what is the next big thing? the senior portfolio manager, you are so not on the dividend train. i respect that because it is a crowded train, but if not dividends, then what? what characteristic should they have? >> you are absolutely right. it was a great ride, but i think it is time to get off. when we finish this fiscal cliff matter, think it will be some unintended consequences, and one of them will be the increase n stocks by back because of the tax situation. if you think like a cfo, it will be looking to see what the alternatives will be to use that cash on the balance sheet and buybacks are very attractive -@alternative and they will be n 2013. liz: they come at the market surprise, sometimes. don't they? announcing a stock buyback, you often to the stock pop on that news. they tell me shareholders are constantly pushing them to do a stock buyback. explain to investors what makes the stock move to the upside. >> a
putting his foot down. he says no tax hikes for the wealthy, no deal. america hits that fiscal cliff in 27 days and that means tax hikes and deep spending cuts if the democrats and the republicans can't come together in some kind of a deal and with just ten days remaining until congress is scheduled to go home for the holidays, the clock ticking. here's what he told bloomberg news. listen. >> we're going to have to see the rates on the top 2% go up and we're not going to be able it to get a deal without it. >> we start this morning with white house correspondent dan lothian, he's in washington, d.c. okay. so who's got the ball in their court at this point then, dan? >> well, you know, i think the house gop, they have presented their counteroffer which white house spokesman jay carney is referring to as, quote, magic beans and fairy dust. we expect that house republicans will keep putting pressure on the white house to engage, push for more details on what the white house will accept when it comes to additional entitlement cuts. but i think what's unclear is what kind of negotiating is goin
the country, i think this whole issue around taxes and around the fiscal cliff generally leads to something else, which is significant uncertainty. and whether it is delaware or whether it is any other state, one of the things that is most important to us is having business leaders have some kind of certainty about what the ground rules are going to be. not just for the next three months, by the way. but really for the next several years. they're more likely to invest, more likely to hire their next employee if they know what the game looks like. what the landscape looks like. and so as much as anything else, we think having that certainty, having that clarity on taxes and spending, is really important. >> susie: you said you are also very concerned about where growth is going to come from. did you discuss that with the president, won did he say, aside from tax increases and spending cuts? >> one of the things we specifically talked about was infrastructure. it didn't used to be that roads and bridges were democrat or republican. we need to continue to invest in our infrastructure, a strong
concerned about what the economic impact could be of going over the fiscal cliff. again, taxes going up on middle-class americans. some industry potentially coming to a standstill. so underlying everything else in our state is growth. if the economy is not growing, in fact, if it is contracting, it will be bad for tax receipts, and it will be bad because it means fewer people working. that's a critically important piece of it. the second thing is making sure as these negotiations take place, the impact on states, on local governments, on our citizens, is carefully considered. >> susie: governor markell, thec s thank you so muh for coming on the program. >> thank you. >> tom: from a governor's take, we now turn to the view from the private sector. some of the nation's leading c.e.o.s have banded together with deficit commission co- chairs erskine bowles and alan simpson to launch the "fix the debt" campaign. darren gersh spoke with maya macguineas, one of the organizers of the campaign. darren began by asking her if the business leaders are making a difference. >> i think the whole campa
the fiscal cliff unless republicans agree to tax increases. reports from major garrett and chip reid. elaine quijano on a new study that could lead to a major change in treatment for breast cancer. >> recurrence is something you live with for your entire life. >> pelley: a household name in computers is wanted in a murder investigation. bob orr reports he was tracked down by the technology he lived by. and we note two milestones: an eyewitness to this moment in history has died. then anthony mason will take five to remember dave brubeck, a giant of jazz. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, they've never said it quite like this: the president's treasury secretary made it clear there is no room for compromise. republicans must accept an increase in tax rates for upper-income americans. negotiations on a budget deal haven't gone very far and there are just 27 days before that so-called fiscal cliff. that's the package of tax increases for most americans and budget cuts that will hit automatically unless the white house and congr
to continue the tax cuts for the 98% now and therefore avoid the fiscal cliff and put off for now the top 2%. and the question then, let the debt ceiling not take effect. a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the sameç people pay moref their money to the federal government without raising tax rates, which we believe will harm our economy. >> let's allow higher rates to go up for the top 2%, that includes all of you, yes. but not in any way that's going to affect your spending, your lifestyles, or the economy in any significant way. let's make sure that 98% of americans don't s
the end of the year, concerns about whether the capital gains tax will rise. he says the fiscal cliff shouldn't be a big issue, and if businessmen got into the room they could solve the problem much faster than congress. >>> adding his tuppence, he says they'll have to get used to it and the fiscal cliff is one of the reasons. >> we have structural influences that speak to the deleveraging, speak to aging demographics of the boomers, that speak to globalization and technology, all of which have been labor and job unfriendly. >> joining us with his views, the senior european economist at jeffries international. before we talk about europe, i'm just wondering if bill gross is right there, what kind of impact is that going to have for everybody else? >> well, in terms of the fiscal cliff, it is having an impact on the u.s. and driving growth there. the impact on europe is probably quite limited for the time being. most certainly europe has its own problems to worry about. we're still kind of waiting for this to be resolved. i think for the time being the problems are separate. but ultima
week. avoiding the fiscal cliff is coming down to taxes. president obama told bloomberg tv yesterday he is willing to be flexible, but there will be no deal unless republicans agree to raise income tax rates on the top 2% of wage earners in america. this week the gop offered a proposal that continues tax breaks for everyone while making cuts to medicare and social security. the president and democrats say the lack of a tax hike on the wealthy is leaving budget talks at an impasse. "60% of americans support asking millionaires to pay slightly more. many republicans feel the same way. the only ones who feel differently are the ones who work in this building. we can't let these negotiations be dictated by the tea party." "we've wasted an enormous amount of time here sparring back and forth in public, and it strikes me it's a good time to get serious about the proposals. traders are keying off market moves for clues about the economy. scott bauer of trading advantage joins us now. scott, what is the gold market telling traders about the prosepects of the economy going over the fiscal cliff
that fiscal cliff... of tax hikes and spending cuts gets triggered, negotiations still appear to be at a standstill, president obama told bloomberg news, the latest plan put forth by house speaker john boehner, simply does not add up. republicans have been equally dismissive of the last proposal from the president. tax rates on the wealthy remain the key sticking point between both sides. after a white house meeting tuesday, a bi- partisan group of governors expressed hope that an agreement will be reached soon. experts forecast economic turmoil in january, if a deal is not reached. >> john boehner took a break from the negotiations to help light of the christmas tree. eagle scout, from colorado springs helped out and there is. the crowd in cheers and the u.s. air force played " a christmas tree " and other holiday classics. this is a spruce tree from call rental white river national forest. it has 10,000 lights, ornaments and will be let in each night until the day after christmas. >> we are going to take a look at the golden gate bridge. dry roadways. the bulk of the
with the latest on the rapidly approaching fiscal cliff deadline of automatic tax hikes on everybody and what appears to be a stalemate in the negotiations. in his first interview since the election, president obama reiterated his demand that any deal must raise taxes on the highest earner. yesterday obama also appeared to showroom for flexibility on actually relowering those tax rates in the future. >> i don't think that the issue right now has to do with sitting in a room. the issue right now that's relevant is the acknowledgement that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlements that i'm prepared to make, that we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. p what i've suggested is let's essentially put a down payment on taxes. let's let tax rates on the upper income folks go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform, we look at what loo
past the fiscal cliff deadline and postponing the battle over the tax cuts for the wealthy until next month. >>> some things going on at the hospital. two australian deejays called the hospital posing at queen elizabeth and prince charles and got through to kate's private nurse. shockingly, if you hear the audio, who briefed them on her condition. >>> and a health scare for anderson cooper. he says he went blind for almost two days. he actually showed a picture of himself wearing an eye patch. he says he lost his sight for some 36 hours last week, while reporting from portugal, after spending a couple hours on the water. cooper said he felt like his eyes were on fire. it turns out, his eyeballs were sunburned. go figure. >> it can happen. >> it can apparently. >> i did not know that. >> you do now. >>> here's diane sawyer, with a preview of tonight's "world news." diane? >> hello, josh. hello to everyone on "gma." tonight, it's not just holiday shopping. join the movement. "made in america." creates new american jobs. american companies are saying thank you. the great "made in america
cliff means a tax hike for just about everybody who does have a job. but today, treasury secretary timothy geithner said the president is absolutely willing to go off the cliff unless republicans agree toto raise ta rates. >> there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. >> reporter: and on that, no progress. >> where are the specifics? nothing is going on. >> reporter: there have been no rey talks between the white house and republicans for a week. but late today, diane, one possible sign of progress. the president and the speaker of the house spoke via telephone. neither side would give any details about what was said, but the stock market closed higher today with traders, at least, apparently optimistic that a deal will be reached. >> one phone call can do that. okay, thank you, jonathan karl. >>> now, we head overseas to cairo. another day of bloodshed and chaos there. battles erupting in the streets. look there, outside the presidential palace. between those two support egyptian president morsi and tho
. everybody is looking at the fiscal cliff, tax the rich more for the fiscal. okay. we've got that. but we are definitely going to tax the rich just a little bit more come january 1 to pay for obamacare, specifically taxes on capital gains, dividends going up to just a little bit more, just a little bit more on january 1, and also a little bit more on income of those people making more than $200,000 a year. so we have defined rich down to $200,000 a year. it was a lot higher than that, but guaranteed january 1, a little bit more for obamacare. >> steve: when you say a little bit more, you mean like 3 or 4%, which adds up. >> it does. it's 3.8% extra as a capital gains tax. >> steve: that's a done deal. that's baked into the health care reform? >> that's it. there is no discussion about it. that was passed two years ago. this is going to happen. then you've got maybe a little bit more on income and other forms of income if we approach this fiscal cliff and the president gets his way. he is digging in his heels on higher tax rates on upper income earners. that will be a little bit more from
cliff. log onto www.wusa9.com and click on fiscal cliff. >>> it is a tax originally designed to make sure that the wealthy folks pay at least some tax, but the middle class could feel even more pain if we go off that fiscal cliff because the alternative minimum tax which was passed in 1969 to catch a small number of families that pay no taxes, if we go over the cliff, it could impact one in five taxpayers. >> the average amount they say for each family is 3,500 per year. that would be 300 a month, but that's a lot of money. what are you going to give up? >> if the budget deal is not done, the amt tax could apply to individuals making just $34,000 a year and joint filers earning $45,000 in 2013. that's another 28 million households and a lot of deduction goes away as well. >>> turns out you can't say whatever you want on the internet. a judge ordered a fairfax county woman to take down parts of her nasty review of her contractor and she may yet face hundreds of thousands of dollars in damages. bruce leshan is live in fairfax with the details. bruce. >> reporter: yeah, anita, jane per
but frozen. so far - no een >>> tensions over tax hikes and spending cuts have left the "fiscal cliff" talks all but frozen. so far no face-to-face meetings have been scheduled between the democrats and republicans. cbs reporter danielle nottingham with the president's push now to sell his plan to american businesses. >> reporter: president obama asked business leaders this morning to support his plan to prevent a fiscal crisis. >> let's allow higher rights to go up for the top 2%, that includes all of you, yes, but not in any way that's going to affect your spending, your lifestyles. >> reporter: if no deal is reached between democrats and republicans before the end of the year, taxes will go up for everyone and automatic spending cuts will kick in. the president wants bush-era tax breaks to expire for households making $250,000 or more. republicans are adamantly opposed to that. >> closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising rates. >> reporter: republicans are also pressing their case with the public. house gop leaders invited
insistence that key to the u.s. beginning to pay down its debt and avoid going over the fiscal cliff is raising tax rates on the wealthiest americans. >> we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> reporter: if republicans agree to do that, the president told bloomberg television, he'll agree to serious spending cuts. republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates, but by eliminating some deductions and loopholes. during last year's budget showdown, the president said he wanted to do exactly that. >> what we said was give us $1.2 trillion in additional revenues, which could be accomplished without hiking tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base. >> reporter: but now the president does not. he says it will not raise enough revenue. >> it's not me being stubborn. it's not me being partisan. it's just a m
pelosi was talking about wasn't exactly the tax cuts now, fiscal cliff later. both sides have said this has to be a two-step process, there has to be some kind of commitment in downpayment on taxes and entitlement cuts and sets up a framework for broader and comprehensive tax and entitlement reform next year because it is such a big, huge change to how we tax and how we would provide medicare and medicaid and social security, you can't do it all in four books. this new idea that republicans get more leverage if they give the president taxes now and hold out on, and hold the line on the debt ceiling like they did last summer successfully is something that is new and i think a different kind of two-part plan that republicans are starting to consider as maybe a backup plan that gives them the ability to say we lost the 2% tax hikes now, but we're going to fight later on the debt ceiling. >> let me bring in congressman james lang foford, fifth rankin republican in the house, congratulations, good morning. >> thank you, good morning. >> let me ask you about the possibility of some sort
for the fiscal cliff deal that include as tax increase for the rich. he met with business leaders in washington d.c. and he is aware that some republicans may be willing to raise tax revenues. but he warped the gop not to pick another fight on the debt sealing. he was can dade -- death ceiling and he was can -- he was candid. >> this is the top 2%. includes all of you, yes. >> i believe there is a purpose to put revenues on the table. >> house speaker boehner countered the president's proposal without raising individual tax rates. the republican plan also includes 600 billion in spending cuts to federal healthcare programs and increase in the eligibility age for medicare. >>> a san francisco blogger and activist is in hot water of a photograph after political opponent. michael petrellis took this of scott weaner last year in a pact room. >> he tried to take a picture of him at an urinal. and today, he pleaded not guilty to misconduct. he wants it to be made as part of the from. >> we will be fighting the case and despite the fact that the photograph was taken, we are talking fundamentally of a ge
and others to avoid the fiscal cliff between now and december 31st but take what we agree on which is that the middle class tax cuts should be extended and tax rates should not go up for the middle class, let's do that now. the republicans refuse to do that thus far, which is sort of baffling. even some of their senior members like tom cole from oklahoma have said let's take that deal, but let's pass the tax cuts for the middle class and we're talking about making sure that tax rates for 98% of all americans and 97% of all businesses. it's a small percentage of individuals that make more than $250,000 a year that tax rates would go up just a little bit. we had an election, thomas, where americans had a clear choice and they chose and we need to make sure that we think a balanced approach that is fair, that doesn't throw the middle class under the bus and that works mathematically. so far what we've seen from republicans in the house does not work in terms of reducing the deficit. >> congresswoman, we are watching the president on our screen at the business roundtable. there was an
go up. and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start talking about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. we have a $16.3 trillion debt. all of this talk about raising taxes doesn't get us even close to solving the problem. it doesn't even start the conversation. it is not a drop in the bucket. we've got to reform our spending or grow the economy. but just raising taxes isn't going to do it. >> well, i agree with you 100%. that's why the president as well as the democrats have called for a balanced approach. so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make additional c
have to leave it there. president obama says no deal on the fiscal cliff. >> how does raising tax rates on the rich help the poor. that is what i don't get. true free market capitalism helps everybody. a rising tide lifts all boats. i'm laugrry kudlow we will be right back. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >> whow does taxing the rich hep the poor rise above poverty and get a job? let's talk to larry elder. he is the author of the great book, "dear father dear son". welcome back. how does taxing successful wealthy people help the poor get out of poverty. well for people who think like i think it doesn't make any sense. but understand something, that is not what
let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> welcome back. this very public negotiation on the fiscal cliff still does not seem to be closing in on a deal. the white house out in campaign style events regularly, making multiple media appearances, kle including timothy geithner right here in 25 minutes. >> but would things be done faster if it was done privately? in his latest column, jeff goldfor a compares u.s. budget talks to merger proxy battles. jeff joins us to explain about that. plus, we have bob from jones day who
proposed his own plan to dodge the fiscal cliff. it includes limiting tax deductions, but no increase in marginal tax rates. and it would change eligibility for medicare and social security over the longer term. bob corker is from tennessee and joins us now from capitol hill. senator, welcome, and first of all, we heard late today that there was a phone conversation between the president and speaker boehner. have you heard anything about that? >> no, i haven't. i've been in multiple conversations today about this. but i've been in a meeting until right now for the last two hours. so i have not been aware of the phone conversation. sphwhrood well, we not hearing any reports other than the fact the call took place, but the fact that it took place, is that good news? >> oh, i don't know, judy. i think there are a the love discussions about what is the best way to get the type of entitlement reforms that everyone knows needs to take place, both republicans and democrats. judy, i have been in i don't know how many meetings in the last two years where there is a lot of commonality around th
, you are, i think, correct in the second piece of the fiscal cliff. that is the tax rates that will apply next year. arguably, you don't have to take action this year, you have the whole of next year during which you can reach resolution to that issue. now, the only reason why i think that's an extraordinarily bad idea is i think it would be viewed quite unfavorably by the financial markets. and so you could see a reaction. and it is really bad tax policy to be legislating in the middle of the tax year on the basic structure of the income tax for that year. >> host: we'll go to jeff in tampa, florida, independent caller. >> caller: good morning, how you doing? >> host: good morning, sir. >> caller: yes, i have a question for mr. buckley, and this is more -- it may be a little generic, but something that a couple of my friends and i have talked about and just trying a basic understanding of. instead of having an income tax, has there ever been any discussion about having a national or a federal sales tax to help offset so this way everyone from the rich to the poor, everyon
's mind right now. with about four weeks to go before that fiscal cliff of tax hikes and spending cuts gets triggered, negotiations still appeared at a standstill on tuesday. karin caifa tells us where everything stands. >> in the midst of a standoff with capitol hill republicans, president obama told bloomberg news that the latest plan put forth by house speaker john boehner, simply doesn't add up. the >> speaker's proposal right now is still out of balance. he talks about, for example, eight hundred billion dollars worth of revenues but he says he will do that by lowering rates. when you look at the math, it does does not work. >> not work. as negotiations as negotiations to avoid the so-called "fiscal cliff" continue, republicans were equally dismissive of the last proposal from the president. >> his proposal was so outlandish i don't think we should go back to the table until he puts something there that we can work with. >> the key sticking point between the two sides hasn't changed -- tax rates for the wealthy. >> the math is clear. the only way to accomplish these things
enough. all will be affected if we allow the fiscal cliff to happen. >> reporter: taxes and cuts bring governor o'malley and a bipartisan group of governors to washington to offer their thoughts on the fiscal cliff, urging republicans and democrats to work together to avoid automatic increases and spending cuts set for the end of the year. in baltimore, a group of demonstrators outside the social security office made their feelings known, urging a resolution that does not include cuts in social security jobs and services. >> we're concerned about the cuts in social security. and we would like to see them change. and we don't want to see our public hurt in any way. we want to serve public every day. >> you don't take money out of people's hands when you're trying to promote jobs. >> this is not a crime to cut back. >> for maryland, there's more than associate security cuts at stake. overall, maryland has 300,000 direct jobs and another 230,000 contracting jobs supported by the federal government. >> maryland has the fourth highest number of go
, vis-a-vis the president on how to avoid the fiscal cliff or what we should do about tax increases and spending cuts. if mr. boehner is the principal negotiator, what he had to say lasted all of 30 seconds. he simply came out and said look, if the president doesn't agree with our plan, the republican plan, he should submit a plan that could pass through congress. he has failed to do that. he said, however, and he used these words, that speaker boehner and the republicans are ready and eager to negotiate with the president. doesn't sound like there's any degree of compromise there. there's an extremely short statement, really didn't say much of anything. that's it, speaker boehner. mr. cantor is now speaking. again, he's keeping it very very short and very much to the point. but the principal negotiator had all of 30 seconds. that's it. we brought it to you live. >>> back to the judge. >> well i was sort of hoping he would say no new taxes no new spending no new borrowing, draw a line in the sand, do what you were sent there to do. they are becoming enablering of obama -- they are b
of these lawmakers, the countdown to the fiscal cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> reporter: speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in washington to spend even more. disagreements among republicans and democrats here on capitol hill is nothing new, but tuesday a republican aide told us the two sides aren't even talking. not surprisingly the white house disagrees. >> i can guarantee you conversations continue at different levels. and among different groups. >> reporter: both parties are ready to play the blame game in case negotiations fail. >> there's only one person out of 370 million americans who can sign something into law and that's the president. >> 60% of americans are asking the wealthy to pay more. >> reporter
$800 billion in tax revenue in the fiscal cliff negotiations. president obama has said there will be no deal unless taxes are raised on the wealthiest americ americans. but staunch conservatives don't want any kind of new taxes. that's where speaker boehner's job gets really tough. on piers morgan tonight newt gingrich said if all else fails, go over the cliff. >> i think that no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two years to an even bigger cliff. i think that the president clearly has staked out a position of nonseriousness. and i think that it's very difficult for the house republicans right now to find any practical way to get his attention. so, he just won an election. he is feeling very good about himself. he is posturing brilliantly, putting the republicans in a corner. they need to relax. they don't have an election until november 2014. >> senior congressional correspondent dana bash joins me now. dana, can we expect fire woworkt the meeting this morning? >> reporter: possibly
. whether republicans should declare victory on taxes and move on. or are we all going over the fiscal cliff? let's see if we can work out a deal right here in the situation room. but it fits in your pocket. now tell the world daniel... of pepto-bismol to-go. at chevy's year-end event, we have 11 vehicles that offer an epa-estimated 30 mpg highway or better. yeah? hey. hey. where's your suit? oh, it's casual friday. oh. [ male announcer ] chevy's giving more. now get a 2013 malibu ls for around $199 per month, plus competitive lessees can get $1,000 toward the down payment for an even better deal. neural speeds increasing to 4g lte. brain upgrading to a quad-core processor. pre-cognitive intelligence with googlenow complete. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade to yourself. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we supp
with this. up ext, the fiscal cliff. it is hung up on tax forthe rich. not really. we will tell you why those taxes argoing upregardless othe deal. torrow, formeru.s. ambsador to the unite nations, moody's keep -- chief eonomists. st-selling author among our guest. please be th us. and as we go to break, here's a little christmas cheer. ♪ lou: prgress on avoiding the fiscal clifford appears to be, ll, stifled. it turns up the president is hitting the rich with tax increases regardless. the internal revenueservice releasg 159 new regulations and rules, heading investment income and wages for high income individuals. these regulationspassed has thing to do, of course, with the fiscal cliff and everything to d with obamacare, including a almost 4 percent surtax on capital gains and dividends, plus almost 1 percent tax on the new tax is estmated to. generate threonine 117 billion over ten years, just about 12 percent of the two and a half trilon the budget committee estimatethe law will cost of that time. here we go. 2013 looks le an interesting, interesting yer. this year the mighty miss
loves balance. great to have you with this. up next, the fiscal cliff. it is hung up on tax for the rich. not really. we will tell you why those taxes are going up regardless of the deal. tomorrow, former u.s. ambassador to the united nations, moody's keep -- chief economists. best-selling author among our guest. please be with us. and as we go to break, here's a little christmas cheer. before pd... i took my son fishing every year. e had greaspot, not easy find, but worth it. butith copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it t helps significantly improe my lungunction starting within five nutes. sybicort doesn replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and thameans...fish on! symbicort is for copd including chronicnchitis and emphysema. it should n be taken rthan twice day. sybirt may increase your risk of lung fections, osteoporosis,s, d some eye problems. ll ur doct if you have a heart condition ohigh blood pressure before taking it. with copd, i thought i'd miss our family t
with increased taxes, because of the fiscal cliff, if the worst happens, consumer demand is just going to fall off. they are already taking action today to try to prepare for that eventuality. but the consumer is kind of blankly ignoring this, and confidence is up for really lots of reasons. i mean, the net worth of households has been repaired. about two-thirds of it has come back as house prices rise and stock prices are now double what they were at the bottom in march of '09. when you look at state and local budgets, they're now much better with revenue rising. so the layoffs and budget cuts, we think are waning, if not over. housing is clearly coming back. things are improving and consumer confidence reflects that. >> tom: but there is that dark cloud of the fiscal cliff. you mentioned it earlier, businesses planning for consumer confidence to go off that cliff if we go off it as a country. do you not agree with that prospect? >> well, no. i believe it will -- if nothing happens and there is no agreement, i think there will be a mild, kind of technical recession in the first half of next y
. we were talking about the so-called fiscal cliff, if that happens, automatically taxes are going to go up for everyone. maybe, then, someone would ask, who was it that said we shouldn't just pass the tax cuts to make certain that the working poor and the middle class get it, who stopped us and who pushed us over the cliff. it won't be the democratic minority in the house of representatives. >>eric: always good to talk to you congressman rangel. good to see you, sir. paying for complaining is the wrath a restaurant chain is facing for speaking out on the president's health care law going to hush others up? not if herman cain has his say. he is next. you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12ears. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ tdd#: 1-800-345-2550 at schwab, we're com
. (laughter) our country will be heading over the fiscal cliff that we ourselves dug and put in our way. it's the set of automatic spending cuts and tax hikes that can only be averted if our nation's leaders are able to display bare-bones competence and middle school level maturity. (laughter) so the there a deal. >> there's, of course, no deal. >> jon: of course! is there there a prospect for a deal? >> there's not a prospect for a deal. >> jon: of course! (laughter) but the ongoing talks -- >> there aren't even very many talks going on. (laughter) >> jon: damn! you're kidding us! give us something! >> but for the first time there are numbers on pieces of paper from both sides. >> jon: numbers on paper! (cheers and applause) we have numbers on paper! from both sides! (whispering snvpld we're all going to be okay. (laughter) how were -- numbers on paper. how were negotiations being conducted before they decided to put numbers on paper? (laughter) were they communicateding by pheromones like aunts? (laughter) vanity cards? is that how this was going? were the two sides just spray painting a
: telling agencies to watch for massive spending cuts from going over the fiscal cliff and warped the business exectives the economy could take another hit if the republicans decide to extend the middle class tax cut to avoid the cliff for now. then come back with more leverage. to tie it to a hike in the debt ceiling. >> we are 23409 going play that game next year. if congress in any way suggests that they are going to tie negotiations to debt ceiling votes, take us to brink of default again, i will not play that game. >> republicans held their own meeting with small business owners denying they're trying to punt. >> i'll be here and available at any moment to sit down with the president to get serious abouting the problem. >> they noted the president has not scheduled any meetings with the g.o.p. leaders in weeks. not offered any counterproposal to boehner's plan from last week. >> a balanced approach the president has been asking for. now we need response from the white house. >> reporter: they continue to insist the impediment to the deal is boehner's tax revenue is not enough
on the fiscal cliff negotiations. after that, in look at the estate tax which is set to go up at the end of the year unless congress and the white house at. "washington journal" is live this morning at 7:00 p.m. eastern on c-span. >> today, politico hosted discussion with bob woodward, author of "the price of politics," and margaux rubio. mike allen moderates the discussion. see it live that to it -- at 8:10 a.m. eastern on c-span 3. >> this weekend, on c-span 3, american history tv, follow harry truman's eldest grandson to hiroshima as they prepare to mark the dropping of the atomic bomb. >> i don't want to argue to argue. at think we're past that. my whole purpose for being here is to honor the dead and to do what i can to visit the southern half. >> clifton truman daniel will join us and talk to us about the inspiration for his trip sunday and 9:00 p.m. eastern on c-span 3. >> the campaign to fix the debt held a forum-today on health care costs and the tax code. next, senator max baucus called on congress to extend the bush era tax cuts on incomes under $250,000. this is 15 minutes. >
right unhealthy fixation on increasing taxes regardless of the consequence and bring on the fiscal cliff. he says who cares if we spiral into another recession. if unemployment goes back up to 9%, that's not the president's problem because in his mind if that happens, he'll have yet another golden opportunity to wash his hands of all of his failures and then arrogantly blame the republican party. to make matters worse, we're learning today that president obama is a far cry away from waging this battle by his lonesome. as usual, his friends in the main stream media have been willing to continue to do whatever he wants and that means to say whatever it takes to try and fool you, the american people, into thinking that raising taxes is your only option. the extent to which so-called journalists have been spreading his propaganda is now in a brand new study. according to this report, the chief offender of that left wing bias is none other than abc news. yes, it turns out that in the three weeks following the election the net woul network cd obama's favorite issue which is raising taxes 17 ti
over the fight in the fiscal cliff. americans face crushing tax hikes and severe spending cuts in 27 days if democrats and republicans cannot come together on a deal. by the way, congress breaks for the holidays in ten days. slash that number. in an interview with bloomberg news, the president made it crystal clear he's not about to blink on the issue of tax hikes for the wealthiest americans. >> we'll have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> white house correspondent dan lothian joins us live from washington this morning. very nice to see you, dan. >> good to see you. >> here's the deal. we have republicans pitted against democrats. now we understand there are issues amongst republicans as well. >> that's right. they're in a tough spot here. they don't want to be in left in a position of being blamed for the fiscal cliff. you're seeing a division between house members and senate members. the reason for this is mainly over the 800 billion in new tax revenue. this was part of john boehner and plan. those tea party-backed co
. the administration says it's absolutely ready to go over the fiscal cliff unless republicans agree to tax increases. reports from major garrett and chip reid. elaine quijano on a new study that could lead to a major change in treatment for breast cancer. >> recurrence is something you live with for your entire life. >> pelley: a household name in computers is wanted in a murder investigation. bob orr reports he was tracked down by the technology he lived by. and we note two milestones: an eyewitness to this moment in history has died. then anthony mason will take five to remember dave brubeck, a giant of jazz. captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening, they've never said it quite like this: the president's treasury secretary made i
a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the plans the white house has talked about us this far, they could not pass either house. >> reporter: a "washington post" poll finds 53% would blame republicans if the country went over the fiscal cliff while only 27% would blame the president. >> we need new thinking and renewed efforts from all americans. >> reporter: republicans and democrats are voicing support for extending middle class tax cuts until a larger deal is found. >> which i hope they will. that that will be a victory for the american people. >> reporter: republicans, like virginia's eric cantor, said the gop has offered plans that will avoid tax hikes. >> and the proposal that we sent to the president deserves a response. >> reporter: maryland congressman steny hoyer warns congressional
cliff that could raise taxes by year's end. we begin with a report from newshour congressional correspondent kwame holman. >> we're going to have to see the rates on the top two percent go up. we're not going to be able to get a deal without it. >> reporter: in his first interview since the election, president obama rejected a proposal from house speaker john boehner. he spoke on bloomberg television. >> unfortunately the speaker's proposal right now is still out of balance. i'm happy to entertain other ideas that the republicans may present. but we are not going to simply cut our way to prosperity or to cut our way out of this deficit problem that we have. we're going to need more revenues. in order to do that, that starts with higher rates for the folks at the top. >> reporter: the president did say today he would consider lowering rates again for the top two percent next year as part of a broader tax overhaul. the house republican plan envisions $2.2 trillion in deficit reductions over the next decade. $800 billion would come from new revenues but with no hike in tax rates f
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